GAINING ABOUT 50 DATA CENTERS

Data center developer and operator, CyrusOne Inc., has just announced the completion of its acquisition by funds managed by KKR, a global investment firm, and Global Infrastructure Partners (GIP), in an all-cash transaction valued at approximately $15 billion, including the assumption of debt.

Pursuant to the agreement which was announced last year, KKR and GIP acquired all outstanding shares of CyrusOne’s common stock for $90.50 per share in an all-cash transaction, a premium of approximately 25% to the company’s closing stock price of $72.57 on September 27, 2021.

“Closing this transaction begins an exciting new chapter for CyrusOne as we continue our global expansion with the benefit of significant resources and expertise that KKR and GIP are able to provide to the Company and its customers,” said Dave Ferdman, Co-Founder and President and Chief Executive Officer of CyrusOne.

“We are very well positioned to capitalize on the acceleration in growth opportunities driven by strong underlying secular demand trends and create substantial value for all of our stakeholders.”

With the completion of this transaction, CyrusOne also announced, effective immediately, that trading of its shares of common stock has been suspended on the NASDAQ Global Select Market, and has requested that its common stock be delisted from Nasdaq.  CyrusOne has also notified the Nasdaq Stock Market LLC of its intention to voluntarily delist its 1.450% Senior Notes due 2027, as well as to deregister the Notes from registration with the Securities and Exchange Commission.

“We see significant opportunity ahead for CyrusOne to build on its market leading position and impressive track record of delivering state of the art data center solutions around the globe, at a time when the world is increasingly dependent on them, at a rapid pace,” said Waldemar Szlezak, Partner at KKR.

“We look forward to leveraging our global experience investing behind digital infrastructure to, together with GIP, support CyrusOne’s continued growth, and are excited to get started.”

Just before the close of this transaction, DataBank also completed its acquisition of four operational data centers in Houston, Texas, which belonged to CyrusOne that collectively feature over 300,000 square feet of raised-floor data center capacity, and 42.5MW of power. This Houston deal closed at a total consideration of approximately $670 million.